SaverOne Affirms that it has not Experienced any Disruption to its Business Operations in Israel

Rhea-AI Summary

SaverOne 2014 Ltd. addresses the impact of recent terrorist attack in Israel

Positive

• SaverOne's ongoing operations in Israel have not been impacted by the recent terrorist attack and the declaration of war by the Israeli government against Hamas.
• The Company continues to work as normal and is making necessary adjustments to ensure business continuity.
• SaverOne's headquarters are located in the center of the country, away from any borders.

Negative

• None.

PETAH TIKVAH, Israel, Oct. 11, 2023 /PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq: SVRE) (TASE: SVRE), a technology company specializing in transportation safety solutions, today addressed the status of the Company's continued and uninterrupted activity in Israel, against the background of the recent terrorist attack in the south of the country and the subsequent declaration of war by the Israeli government against the Hamas terrorist organization.

SaverOne's management affirms that the Company has not seen any impact to its ongoing operations in Israel and continues to work as normal. At the same time, the Company continues to monitor its ongoing activities and make any needed adjustments to ensure a smooth continuity of its business, while supporting the safety and well-being of its employees. Furthermore, the Company notes that its headquarters are in the center of the country, north-east of Tel Aviv and not near any borders.

Ori Gilboa, CEO of SaverOne, commented, "We are absolutely devastated by the horrific attacks against our people over the past weekend. We pray for the victims as well as their families, friends and loved ones. We are resilient, and as we have done many times in the past, we will overcome these challenging times."

"I reaffirm to our employees, partners and shareholders that our continued operations have not been impacted in Israel and we continue to fulfill our duties and service our customers and partners, as normal, and to the fullest of our abilities. Finally, I would like to thank all those that have reached out to express their support and best wishes. "

About the SaverOne System

SaverOne's system is installed in vehicles to provide a solution to the problem of driver distraction, as a result of drivers using distracting applications on the mobile phone while driving, in a way that endangers their safety and the safety of their passengers. This phenomenon is considered one of the main causes of road accidents in the world. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne's technology specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation), without user intervention or consent, creating a safer driving environment.

SaverOne's primary target markets include commercial and private vehicle fleets that are interested in reducing potential damages and significant cost, vehicle manufacturers that are interested in integrating safety solutions to their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately increased focus on monitoring and prevention of cellular distraction systems in vehicles, in particular driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.

The Company's strategy is to provide its technology for installation to customers in the aftermarket as well as address OEM vehicle manufacturers, to install the Company's protection technologies during the vehicle manufacturing process.  

About SaverOne

SaverOne is a technology company engaged in the design, development and commercialization of OEM and aftermarket solutions and technologies, to lower the risk of, and prevent, vehicle accidents.

SaverOne's initial line of products is a suite of solutions that saves lives by preventing car accidents resulting from distraction from the use of mobile phones while driving. SaverOne is also developing a sensor system for early location and direction detection under all visibility conditions of vulnerable road users (VRU) through their cellphone footprint.

Learn more at https://saver.one/

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding SaverOne's strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition, and may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on SaverOne's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Many factors could cause SaverOne's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements. Factors that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the ability of our technology to substantially improve the safety of drivers; our planned level of revenues and capital expenditures and our ability to continue as a going concern; the ability of our technology to substantially improve the safety of drivers; our ability to market and sell our products; our plans to continue to invest in research and development to develop technology for both existing and new products; our intention to advance our technologies and commercialization efforts; our intention to use local distributors in each country or region that we will conduct business to distribute our products or technology; our plan to seek patent, trademark and other intellectual property rights for our products and technologies in the United States and internationally, as well as our ability to maintain and protect the validity of our currently held intellectual property rights; our expectations regarding future changes in our cost of revenues and our operating expenses; our expectations regarding our tax classifications; interpretations of current laws and the passage of future laws; acceptance of our business model by investors; the ability to correctly identify and enter new markets; the impact of competition and new technologies; general market, political and economic conditions in the countries in which we operate; projected capital expenditures and liquidity; our intention to retain key employees, and our belief that we maintain good relations with all of our employees; any resurgence of the COVID-19 pandemic and its impact on our business and industry; and other risks and uncertainties, including, but not limited to, the risks detailed in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") on April 27, 2023 and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and SaverOne undertakes no duty to update such information except as required under applicable law.

International Investor Relations Contact: Ehud Helft +1 212 378 8040 saverone@ekgir.com   Israeli Investors Contact: Jonathan Eilat John@theinvestor.co.il

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SOURCE SaverOne

FAQ

Has SaverOne's operations in Israel been affected by the recent terrorist attack?

No, SaverOne's ongoing operations in Israel have not been impacted.

Where are SaverOne's headquarters located?

SaverOne's headquarters are located in the center of the country, north-east of Tel Aviv and away from any borders.

Is SaverOne making any adjustments to ensure business continuity?

Yes, SaverOne is making any needed adjustments to ensure a smooth continuity of its business.

Is SaverOne receiving support and best wishes from others?

Yes, SaverOne expresses gratitude to all those who have reached out to express their support and best wishes.